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Shoe In Money Members Area | Day 20 – Monetize!

2014-06-02  lymgo

Day 20 – Monetize!

It’s all about the Benjamins.

I know I keep telling you to focus 100% percent of your energy on helping other people and building out your brand. But, of course, if you don’t make money, all of this is for nothing.

So, it’s time to monetize.

Before we dive in, notice that I saved this until day 20.

For THREE weeks, you’ve been building a website, understanding your audience, creating connections with people in your niche, and learning to interact and write for people that you didn’t know before.

Maybe you’ve made a few dollars off of a review you wrote, but more than likely you haven’t made any money.

This is normal, and honestly I don’t like monetizing any earlier than the third or fourth week anyways.

It’s impossible to fully exploit the traffic to your website and ensure optimal conversions if you haven’t yet built enough value into the site.

Of course, if you could condense all of the tasks I give you in days 1 through 19 into four days, you can start monetizing in the first week.

But if you’re following this action plan religiously, this is the official kickoff to payday.

There are a lot of ways to monetize. I cover quite a few in the book, but for our purposes here are the biggest:

Advertising

Ads are huge. I made my fortune with AdSense back in the early days of Google, and I often recommend people to start there.

However, it really depends on what kind of site you’re building. If you’re building an authority blog with your name on it, you probably don’t want to use AdSense quite yet.

But, if you’re building an authority SITE, and already starting to get a decent chunk of traffic, AdSense is a good way to go. For today:

  • Map where you want ads on your site
  • If it’s a blog, consider the impact AdSense might have (to make money, people NEED to leave your site…not ideal)
  • Make a list of potential banner ad placements you could get – contact those advertisers for custom rates
  • Decide EXACTLY how much you need/want to make based on time invested. Does it make sense?

Reviews

Every site should have a good review on it. If you’re promoting a product, whether it’s on your blog or on an authority site, a really long, very in-depth review of the hot product that you’re promoting is a good idea.

If you’ve already written your review, then you’re light years ahead but if you haven’t, here’s what you should do today:

  • Use the product!
  • Take detailed notes and outline a thorough review based on your experience using that product
  • Write or record a long review – better yet, do both of them – one for YouTube and one for your site
  • Create shorter, supplemental reviews that can go on outside sites
  • Devise methods to drive traffic to those reviews

Your List

For my money, an email marketing list is the most effective way to make money online. To date, I’ve made over $1 million with my list.

Of course, I made a lot more money with some of the other things I’ve done, but that’s mostly because I f’ed up and started my list so late. So, as an early marketer, just beginning to get traffic to your site, this is where you want to start.

  • Choose a day each week to check analytics for your list – are people clicking? Buying?
  • Split test your most important messages to check for effectiveness
  • Choose a second or third product you can run in your emails to see which converts better
  • Start writing or recording another freebie that will further build trust with your list members

Next: Day 21 – SEO in a Day

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